- Canary Capital files for the first Hedera (HBAR) spot ETF, offering investors direct exposure to HBAR and bypassing derivatives.
- The move signals growing optimism for crypto ETFs, with the possibility of more filings as the U.S. crypto regulatory environment evolves under the new administration.
After the first U.S. HBAR Trust ignited speculation on a Hedera ETF launch, as discussed in a recent CNF update, it was also reported that Canary Capital has launched the industry’s first Hedera Trust product in the U.S.
This is a pioneering step for cryptocurrency ETFs: Canary Capital has filed a registration with the U.S. Securities and Exchange Commission (SEC) for a spot ETF focused solely on Hedera (HBAR). This fund aims to give investors direct exposure to HBAR, Hedera’s native asset, bypassing derivatives and futures to hold only the digital currency itself. This proposal, the first of its kind for HBAR, signals expanding interest in niche crypto assets in the ETF space.
Nate Geraci, President of the ETF Store, suggests this move underscores optimism among ETF issuers about regulatory openness, predicting that filings for new crypto ETFs will likely intensify as the industry tests regulatory boundaries under new administration leadership.
In a statement, Nate Geraci stressed,
“My expectation is that issuers will grow increasingly aggressive with crypto-related ETF filings in an attempt to test out the SEC under the new Trump administration.”
Hedera’s Role in Decentralized Innovation
Furthermore, Canary Capital’s interest in creating an HBAR ETF reflects confidence in Hedera’s network architecture and the potential for such decentralized assets to gain regulatory approval under evolving U.S. crypto policy. Hedera, which leverages the unique Hashgraph consensus for secure and efficient transactions, operates as a decentralized network governed by major global organizations.
In addition, HBAR plays a pivotal role within Hedera’s ecosystem, facilitating transactions, powering decentralized applications, and enabling participation in network governance.
Shifting Regulatory Landscape for Crypto ETFs
The timing of Canary Capital’s filing aligns with speculation of potential changes in SEC leadership and policy direction under the incoming Trump administration. Canary Capital’s filing also comes after the SEC’s approval of several Bitcoin and Ethereum spot ETFs, suggesting a possible warming stance on crypto assets.
As of today, Hedera (HBAR) is trading at $0.05734, having surged by 2.33% in the past day and 14.97% in the past week.
